Working From Home and Home Insurance: What You Need To Know

In 2018, the Bureau of Labor Statistics stated 29% of workers could work at home in their primary job. 25% worked at home at least occasionally. However, in 2020 the coronavirus pandemic changed those stats drastically. When the entire world was forced to work from home and adapt to the new normal workday. 

Businesses from all over the country have made the decision to have their workforce work remotely to comply with the social distancing rules to maintain the safety of their employees.

Transforming your home into your new office space has become a reality most everyone is familiar with. Some wonder how working from home affects your home insurance policy, and the short answer is it depends on your situation. Here’s everything you need to know about working from home and home insurance. 

Working From Home Full-Time and Insurance

Where it was possible, the majority of America’s labor force has been asked to work remotely for at least some period of time due to the coronavirus outbreak. When working from home, your company should provide basic work equipment such as a company-issued work laptop and desktop monitor. If you’re lucky, they might supply you with furniture. 

Typically, company-owned equipment is protected under your company’s business insurance policy. This means you don’t have to add extra company equipment coverage to your homeowners policy. 

Now if you are using your personal laptop or computer for work, this is where your home insurance steps in. Most insurance policies have specific coverage limits for business property, but depending on the insurance provider, it can range from $2,000-$5,000. This should be enough to cover any losses for your personal work-related equipment, but checking with your insurance provider is always a good idea.

If your job requires you to sometimes meet with clients in your home, then it is important to realize that in the event one of your clients gets injured on your property, your homeowners insurance won’t protect you. It is the responsibility of your company’s general liability insurance. But double-checking with your insurance agent and an HR representative is always a good idea. 

Know Your Coverage

If you are a full-time employee and want to know more about what liability and personal property protection you have, talk with your supervisor to see your coverage options while working from home.

Full-time employees who work from home typically have protection for:

• Business equipment is provided to you while working from home.
• Limited protection for personal property while using it for work-related responsibilities. 
• Reimbursement for work-related injuries that happen during work hours.
• Liability protection for client injuries on your property. 

The coronavirus has created new challenges for businesses to learn how to adapt to the new normal. That is why knowing the type of protection your homeowners policy offers is important. And, the insurance you get as an employee will help you know what to do if an accident happens. 

If you have any questions about your homeowners insurance policy or want to add additional protection, contact an agent at TGS Insurance. Our team of professionals will find you the best coverage for your home for a low rate. Have a peace-of-mind knowing you are protected with TGS Insurance!